Real Estate In Mumbai

Real Estate prices all over the country have corrected by more than 25% in the last 12 months due to projects getting delayed as a recourse of liquidity crunch. But the only city that seems to be still resilient to this chain reaction is Mumbai. Property prices in parts of Mumbai have corrected by about 10% but are still the highest in the country. Prime areas in Mumbai are still going at around Rs35000-Rs45000 per sq feet and this is after the correction.

Suburban Mumbai and projects in areas such as Thane are much cheaper at around Rs8500-Rs10500 per sq feet. Developers are expecting a further correction of 10-15% over the year on grounds of many projects getting delayed and further expectations of a fall in prices. Real estate as an avenue for investment remains the most lucrative even today in Mumbai but only with a long term horizon. One can expect around 27% returns on an average for a period greater than 7 years.